The latest data of the Central Statistical Bureau (CSB) published February 11 show that in January 2020, compared to January 2019, the average level of consumer prices rose by 2.2 %. Prices of goods increased by 2.0 %, and prices of services – by 2.7 %.
Compared to December 2019, in January 2020 the average level of consumer prices increased by 0.4 %. Prices of both goods and services grew by 0.4 %.
Commenting on the data, Swedbank said: “The main drivers of annual inflation in January were transport, food, alcohol and tobacco. These categories might be the main drivers of price growth this year. Meanwhile, housing related services lost the impact due to reduced gas and electricity bills, as the result did not contribute to annual inflation in January. We expect inflation to remain moderate at 2.4% in 2020.”